MAC Copper Limited's Lock-Up Period Set To Expire on September 8th (NYSE:MTAL)

Key Points

• MAC Copper’s lock-up period expires September 8, allowing insiders and major shareholders to sell shares previously restricted from trading. The company issued 20 million shares at $10 each in its March 12 public offering.
• Analyst sentiment is mixed: Weiss Ratings downgraded the stock from “sell (d-)” to “sell (e),” while MarketBeat reports a consensus rating of “Moderate Buy” based on one Strong Buy and one Sell rating.
• MTAL opened at $10.20, within its $10.00–$11.80 one-year range, while institutional investors and hedge funds own a substantial 87.47% of the company’s stock.

MAC Copper's (NYSE:MTAL - Get Free Report) lock-up period is set to expire on Tuesday, September 8th. MAC Copper had issued 20,000,000 shares in its public offering on March 12th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. After the expiration of the company's lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of MAC Copper from a "sell (d-)" rating to a "sell (e)" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, MAC Copper has a consensus rating of "Moderate Buy".

MAC Copper Stock Performance

Shares of NYSE:MTAL opened at $10.20 on Tuesday. MAC Copper has a 1 year low of $10.00 and a 1 year high of $11.80. The firm has a fifty day moving average price of $10.20 and a 200 day moving average price of $10.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTAL. EverSource Wealth Advisors LLC raised its stake in shares of MAC Copper by 10,692.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock valued at $34,000 after acquiring an additional 2,780 shares in the last quarter. Parallel Advisors LLC bought a new stake in MAC Copper during the third quarter worth approximately $44,000. Russell Investments Group Ltd. boosted its position in MAC Copper by 56.2% during the second quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company's stock worth $74,000 after purchasing an additional 2,197 shares during the period. Legal & General Group Plc grew its holdings in MAC Copper by 135.5% during the second quarter. Legal & General Group Plc now owns 11,661 shares of the company's stock valued at $141,000 after purchasing an additional 6,709 shares during the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new position in MAC Copper during the third quarter valued at approximately $159,000. Institutional investors and hedge funds own 87.47% of the company's stock.

MAC Copper Company Profile

Metals Acquisition Limited focuses on mining and production of copper and silver. It operates the CSA copper mine in Cobar, Australia. The company was incorporated in 2022 and is headquartered in Saint Helier, Jersey.

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